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Binance NFT Launches IGO: Welcoming the Next Generation of Gaming

2021-10-25

Binance NFT will officially launch the first-ever IGO or Initial Game Offering on October 26th. Learn about our latest initiative to build the ultimate launchpad for NFT games and gamers. 

Main Takeaways

  • We’re thrilled to launch IGO, short for Initial Game Offering, our brand new initiative to support the future of NFT gaming. 

  • IGOs, or Initial Game Offering, are core gaming NFT assets from top-tier gaming projects available exclusively on Binance NFT. 

  • IGO drops will provide the foundation for a gaming metaverse that connects high-quality blockchain games and NFT assets to the largest and most passionate crypto community in the world. 

Gaming NFTs have quickly become a core focus at Binance NFT. Since our debut in June, we’ve launched over 10 gaming NFT collections to widespread popularity and appeal. The majority of these collections sold out in seconds, with some reaching up to 23x their initial price in the secondary market. However, the emerging sector is still young and underdeveloped, and gaming projects require time, resources and a passionate community to reach their full potential. 

With our passion for the evolving gaming metaverse, we’re thrilled to announce the first-ever IGO—Initial Game Offering—our brand new initiative to support the future of NFT gaming. Top gaming projects will be selected to launch exclusive NFT collections on Binace NFT, ranging from early access passes to in-game assets. IGOs are just the first step of many to building the ultimate launchpad for NFT gaming and gamers. 

What is an IGO?

IGOs, or Initial Game Offering, are NFT collections from top-tier gaming projects available exclusively on Binance NFT. The collections can launch either via auction, fixed price or mystery boxes. IGOs can be conducted over several rounds, offering a different number of assets each round with a tiered price structure.

IGOs are purely for gaming and all drop content will consist of in-game assets such as early-access passes, weapons and items, exclusive Binance cosmetics and skins and much more! 

How Does an IGO Work?

Similar to our premium collections, all IGOs will have a dedicated landing page so users can thoroughly research each drop and the game. In fact, you can access these pages just like every other drop on Binance NFT.  On these pages, you’ll find information such as a brief introduction to the game, development roadmaps, in-game previews, available NFTs for sale and more. Think of the project’s landing page as their mini gaming metaverse on Binance.

A New Home For NFT Gaming

Despite the growing popularity of NFT gaming—which accounted for more than 50% of NFT trading volume—many of these projects have struggled to find a dedicated hub to develop their game and community. With Steam’s recent ban on all blockchain, NFT and crypto games from their storefront, the blockchain gaming space lacks an established game distribution platform to build a thriving fanbase and community. 

Binance IGO drops will provide the foundation for a gaming metaverse that connects high-quality blockchain games and NFT assets to the largest and most passionate crypto community in the world. In addition, we also hope to increase exposure and hype for gaming projects not housed on the Binance Smart Chain.

Here’s what you can expect for Binance NFT IGOs:

  • VIP sneak peeks plus exclusive early access to NFTs prior to game launch or official public release. 

  • Access premium-level NFTs at a lower cost. Some of our IGO launches will also sell at a much lower price to Binance NFT users.

How do I participate?

  • If you’re a Binance user, you can use the funds in your wallet on Binance NFT. Read our step-by-step guide if you want to learn how to top up your wallet to buy NFTs on Binance.

How can gaming projects apply for the IGO? 

  • If you’re interested in launching an IGO collection on Binance NFT, please complete the application form. The Binance NFT team will review and contact you if your submission is successful and approved. 

  • Binance NFT IGO is multi-chain; we’re open to any high-quality gaming project across all blockchain networks. However, in collaboration with Binance Smart Chain’s $1B growth fund, Most Valuable Builder (MVB) winners will have a higher chance of getting selected.

Coming Soon to Binance NFT

DeRace officially launches on October 26, 2021

The DeRace drop will include:

  • 10 types of NFTs, including five regular horses and five Binancian horses.

  • NFTs on sale are the DeRace NFT Horse Tickets which can be exchanged for a DeRace NFT Horse,  a play-to-earn asset you’ll be able to use in the game.

  • With the DeRace NFT Horse Ticket, you’ll get the opportunity to receive a DeRace NFT horse before the official game launch.

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